News Update: Novartis (NYSE:NVS) Takes Exclusive Option to Develop Transgene's Cancer Vaccine

Описание

3/10/2010-Shares of Novartis (NYSE:NVS) are trading 0.3% lower to $54.46 Tuesday after Reuters reported that it has taken an exclusive option to develop Transgene's cancer vaccine TG4010.

Transgene could be in line for milestones payments of up to 700 million euros ($950 million), in addition to a non-refundable $10 million option fee.

Before exercising its option, Novartis wants to see the outcome of a mid-stage Phase IIb clinical trial, due sometime in 2012.